21st Apr 2016 07:22
LONDON (Alliance News) - Sutton Harbour Holdings PLC on Thursday said it anticipates its results will meet its expectations for its full financial year and said it has kicked off a strategic review which could lead to a sale of the business.
Sutton Harbour, the marine and waterfront regeneration company focused on the Sutton Harbour area in Plymouth, said it maintained its high letting occupancy through the year to the end of March and saw strong growth in car parking revenue.
Fish landings returned to normal levels at Plymouth Fisheries, following an exceptional performance the year earlier, while margins have improved on fuel sold to commercial fishing boats, it said.
Overall, the company anticipates meeting its expectations for the financial year that ended in March.
Sutton Harbour also said it has started a strategic review which may lead to the company being sold. It said its potential for growth remains constrained by its existing capital structure and has appointed investment bank Rothschild to advise on its options.
Sutton Harbour shares were up 11% to 28.90 pence on Thursday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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